Current Trend

News events to watch for today :

Today’s Surf

5:00am EST– There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up and MACD was negative and gaining value. This was a valid entry.

The entry was at the close of the candle at 1.5726 with a stop at the most recent swing low at 1.5653. Since I was 24 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.5750.

Entry: Short at 1.5726 Stop: 1.5653 Target: 1.5750

7:45am EST– My target was hit. Price made a clean break so I moved my stop to 1.5750 and set my next target for 1.5800.

8:45am EST– Unfortunately I got stopped out at my original target at 1.5750. (+24 pips)

Dude! So you've read just about everything you could possibly get your hands on about the forex. Follow along as I take a simple forex trading system and apply it to an unsimple market. If you're new trader, you should read this first.. Then check out the Cowabunga System FAQs.

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